Liability in the Event of Default Sample Clauses

Liability in the Event of Default. Both parties shall sufficiently perform their obligations under this Agreement. Either party breaching this Agreement shall bear the liability as arising therefrom and in relation thereto. If such breach causes damages to the other party, the breaching party shall indemnify the other party for all such damages.
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Liability in the Event of Default. Art.21. (1) In the event that THE CONTRACTOR has not completed the activities within the terms under art. 5 and the delay is not due to actions or inactions of THE CONTRACTING AUTHORITY or an unforeseen circumstance or actions (acts) of third parties different from THE CONTRACTOR, THE CONTRACTOR shall be obliged to pay a penalty to THE CONTRACTING AUTHORITY at the amount of 3% per day of the Price for performing the contract but not more than 20% (twenty per cent).
Sample 1

Related to Liability in the Event of Default

  • No Event of Default No Default or Event of Default has occurred and is continuing.

  • Waiver of Event of Default The Majority Certificateholders may, on behalf of all Certificateholders, by notice in writing to the Trustee, direct the Trustee to waive any events permitting removal of any Master Servicer under this Agreement, provided, however, that the Majority Certificateholders may not waive an event that results in a failure to make any required distribution on a Certificate without the consent of the Holder of such Certificate. Upon any waiver of an Event of Default, such event shall cease to exist and any Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other event or impair any right consequent thereto except to the extent expressly so waived. Notice of any such waiver shall be given by the Trustee to the Rating Agency.

  • Event of Default Any of the following shall constitute an “Event of Default”:

  • Default or Event of Default No Default or Event of Default hereunder has occurred or is continuing or will occur as a result of the giving effect hereto.

  • Notification of Event of Default Borrower shall notify Agent immediately of the occurrence of any Event of Default.

  • Actions following an Event of Default On, or at any time after, the occurrence of an Event of Default:

  • Action if Other Event of Default If any Event of Default (other than any Event of Default described in clauses (i) through (iv) of Section 9.1(h)) shall occur for any reason, whether voluntary or involuntary, and be continuing, the Lender may, by notice to the Borrower declare all or any portion of the outstanding principal amount of the Loans and other Obligations to be due and payable and/or the Commitments (if not theretofore terminated) to be terminated, whereupon the full unpaid amount of the Loans and other Obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, and the Commitments shall terminate.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

  • Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders, notices of all Events of Default known to the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

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